Approval of the Vikings stadium deal approved earlier this year also included a deal to renovate Target Center. But those plans have been delayed as private and public interests tussle over how to parcel out the $100 million tab for fixing up the city-run arena, the Star Tribune reports.
City officials have said they now expect a 50-50 split, with equal shares paid by public and private interests, namely, the Minnesota Timberwolves and venue operator AEG. The Wolves haven’t approved the $100 million pricetag or agreed to pay 50 percent. In fact, the team was told it would be on the hook for only about one-third the cost, Ted Johnson, a senior vice president of the Timberwolves, tells the Star Tribune.
Stakeholders say amenities at the 22-year-old facility, which hosts about 200 events a year, can’t compete with peer arenas. There was some good news recently: The overall estimated cost has come down considerably, from about $150 million to $100 million.
Here’s more background on the renovation project.
